OPEN-SOURCE SCRIPT
Volume with Price Change-based Coloring
This script presents volume as Gray bars unless there is a significant price gain or drop on that bar. This avoids the problem where there might be high volume within a time bar, but the price surges up or down and then returns near where it started. With conventional volume plots this would show as a large Red or Green bar, but the ultimate price move is somewhat arbitrary since the bar close is near the open. The script also includes a configurable moving average line and standard deviation line for visual reference.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.